Thursday, August 27, 2015

Jim Murren News3LV Interview Highlights

MGM Resorts International chief executive officer Jim Murren did a TV interview with Jeff Gillan of KSNV News3LV the other day.

Some highlights:

Despite lowered revenues over the past year that he called growing pains, Murren is still bullish on Macau citing infrastructure improvements: a bridge from Hong Kong, development of the neighboring Hengqin island, a high speed rail network, expansion of the airport and light rail. Macau makes up about 20% of the company's revenue.

Talking about Las Vegas Murren highlighted a growing convention business and increased flight activity at McCarran International Airport. He talked about shifting demographics noting that the average age of the Las Vegas tourist is lowering. People are coming to Las Vegas for shows, entertainment, conventions, music festivals, sporting events - "Many of them have no interest in gambling and that's perfectly fine with me."

Murren still thinks Las Vegas will get a hockey team and he wants to attract locals with the new arena and park. Speaking about complaints that there will be a lack of parking at the arena, Murren said, "What's wrong with walking? Get off your butt and walk a little bit. We have garages up and down the Strip, which by the way are free."
And casinos, restaurants and bars attached to those garages!

Murren confirmed that he's not selling The Mirage.

Talking about a new name for Monte Carlo Murren said there will be an announcement by the end of the year. They're close to selecting a name that will attract millennials, people who are sports and entertainment oriented, and people who are spontaneous.

Related: Jim Murren Nevada Public Radio interview highlights from back in June.